Regulatory Alerts2017-08-17
Added · Updated
Combating Financing of Weapons of Mass Destruction Activities
The Hong Kong Monetary Authority reminds authorized institutions to maintain vigilance against transactions related to weapons of mass destruction proliferation following recent developments concerning the Democratic People’s Republic of Korea. Institutions are required to keep comprehensive watch lists updated with relevant designations and adhere to United Nations Security Council Resolutions, specifically 1540 and 2371. Providing services to suspected proliferators constitutes an offence under Hong Kong law, necessitating the filing of suspicious transaction reports and consideration of legal advice regarding overseas sanctions regimes.